Cardano (ADA ($0.65)) is showing resilience in the market, trading at $0.8743 after a 1.45% rise in the last 24 hours. The token held steady throughout the day, with its lowest point touching $0.8568 and its highest climbing to $0.8936. Despite minor pullbacks, ADA has maintained an overall upward trajectory, signaling renewed investor confidence.

Market Strengthens with High Volume

The market cap now stands at $31.27 billion, reflecting the same 1.45% increase. However, what truly stands out is ADA’s trading volume. In the past 24 hours, volume surged to $1.72 billion, marking an impressive 46.82% jump. This sharp increase in liquidity suggests heightened trader activity and growing interest in the asset, especially as it continues to consolidate near the $0.90 mark.

_{24-hour price chart. Source: CoinMarketCap}

Cardano’s circulating supply sits at 35.76 billion ADA, close to its maximum cap of 45 billion ADA, leaving limited room for inflation. With a total supply of 44.99 billion ADA, the project’s scarcity model remains intact, which could support long-term price stability.

Related article: Cardano’s ADA Holds Support as Hoskinson Highlights Network Growth

Historically, ADA reached its all-time high of $3.10 in September 2021, a stark 71.7% drop from current levels. On the other hand, the token is still up a staggering 4,953% from its all-time low of $0.01735 recorded in October 2017. This massive long-term growth underscores ADA’s resilience despite the ongoing volatility.

Short-Term Momentum and Key Levels

Looking at the latest chart, ADA showed steady sideways movement through much of the evening before breaking upward in the morning hours. The price peaked close to $0.89 before cooling slightly. If bullish momentum continues, ADA could test the psychological barrier of $0.90, which has acted as resistance. Conversely, a dip below $0.86 may invite more selling pressure.

Related article: ADA slips then rebounds: Can buyers turn 0.83 into support?

Cardano’s 24-hour performance highlights renewed strength supported by substantial trading volume and steady price growth. With its market cap holding firm above $31 billion and liquidity surging, ADA appears well-positioned for further gains. While it still trades far below its all-time high, the coin’s strong fundamentals and investor demand continue to keep it in the spotlight.

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